Statement re Empire Online
Published: 21/11/2005, 09:18
PartyGaming Plc 21 November 2005 21 November 2005 PartyGaming Plc ("PartyGaming") Empire Online Limited ("Empire") PartyGaming confirms that discussions with Empire have been terminated. The Board of PartyGaming also confirms that last week, having undertaken an extensive review of the business, it made a further informal and conditional proposal to the Board of Empire. The proposal was subject to, inter alia, the completion of its detailed due diligence and Board approval. The proposal, which reflected PartyGaming's view of Empire's prospects together with potential synergy benefits, was to acquire the assets and business of Empire for a value which was equivalent to approximately 60p per Empire share. In its announcement today, Empire has also said that it intends to take legal action against PartyGaming following the move of PartyPoker.com to a new platform on 8th October 2005. To the extent that any action is forthcoming, PartyGaming is highly confident of a successful outcome. Contacts: PartyGaming Plc +44 (0)20 7337 0100 Peter Reynolds, Director of Investor Relations John Shepherd, Director of Corporate Communications Financial Dynamics +44 (0)20 7831 3113 Edward Bridges / Juliet Clarke This information is provided by RNS The company news service from the London Stock Exchange